Important Information about Investment Managers Trading Away in J.P. Morgan Securities LLC ("JPMS") Wrap Fee Investment Advisory Programs

Through J.P. Morgan Securities (a brand name for a wealth management business of JPMS), JPMS offers the following wrap-fee investment advisory programs that include the discretionary portfolio management of client assets by third-party Investment Managers:  the Strategic Investment Services (“STRATIS”) Program; Investment Counseling Service (“ICS”) Program; Unified Managed Account (“UMA”) Program; Customized Bond Solutions (“C-BoS”) Program; and Systematic Managed Accounts (“SMA”) Program (collectively, “Wrap Fee Programs”). This document provides information to clients, who are participating, or are considering participating, in a Wrap Fee Program, about Investment Managers’ placement of client trade orders for execution by broker-dealers other than JPMS. This practice is frequently referred to as “trading away.”

 

The extent to which an Investment Manager chooses to trade away from JPMS can affect your total cost of investing. When an Investment Manager places trades with JPMS for execution in a Wrap Fee Program, your account does not incur any additional costs because trade execution by JPMS is covered by the wrap fee you pay to JPMS. However, when an Investment Manager chooses to trade away from JPMS, execution by a broker-dealer other than JPMS is not covered by the wrap fee and your account therefore may incur a commission or other additional cost.

 





Last Updated April 15, 2019

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This website provides information about the brokerage and investment advisory services provided by J.P. Morgan Securities LLC (“JPMS”). When JPMS acts as a broker-dealer, a client's relationship with us and our duties to the client will be different in some important ways than a client's relationship with us and our duties to the client when we are acting as an investment advisor. A client should carefully read the agreements and disclosures received (including our Form ADV disclosure brochure, if and when applicable) in connection with our provision of services for important information about the capacity in which we will be acting.

INVESTMENT AND INSURANCE PRODUCTS ARE: • NOT FDIC INSURED • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY • NOT A DEPOSIT OR OTHER OBLIGATION OF, OR GUARANTEED BY, JPMORGAN CHASE BANK, N.A. OR ANY OF ITS AFFILIATES • SUBJECT TO INVESTMENT RISKS, INCLUDING POSSIBLE LOSS OF THE PRINCIPAL AMOUNT INVESTED
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“J.P. Morgan Securities” is a brand name for a wealth management business conducted by JPMorgan Chase & Co. (“JPMC”) and its subsidiaries worldwide. JPMorgan Chase Bank, N.A. and its affiliates (collectively “JPMCB”) offer investment products, which may include bank managed accounts and custody, as part of its trust and fiduciary services. Other investment products and services, such as brokerage and advisory accounts, are offered through J.P. Morgan Securities LLC (“JPMS”), a member of FINRA and SIPC. Annuities are made available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. JPMCB, JPMS and CIA are affiliated companies under the common control of JPMorgan Chase & Co. Products not available in all states.

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